RAM Ratings publishes Sarawak Petchem preliminary rating rationale

Published on 29 Apr 2022.

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RAM Ratings has published the rating rationale for Sarawak Petchem Sdn Bhd’s (the Company) proposed RM6.0 bil Islamic Medium-Term Notes Programme (proposed Sukuk Wakalah). The report expands on the factors underpinning the Company’s preliminary AAA(s) rating and its stand-alone credit profile as outlined in the media release dated 27 April 2022, titled “RAM Ratings assigns preliminary AAA(s)/Stable rating to Sarawak Petchem’s proposed Sukuk Wakalah”. 


Analytical contacts
Karin Koh, CFA
(603) 3385 2508

Thong Mun Wai
(603) 3385 2522


The credit rating is not a recommendation to purchase, sell or hold a security, inasmuch as it does not comment on the security’s market price or its suitability for a particular investor, nor does it involve any audit by RAM Ratings. The credit rating also does not reflect the legality and enforceability of financial obligations.

RAM Ratings receives compensation for its rating services, normally paid by the issuers of such securities or the rated entity, and sometimes third parties participating in marketing the securities, insurers, guarantors, other obligors, underwriters, etc. The receipt of this compensation has no influence on RAM Ratings’ credit opinions or other analytical processes. In all instances, RAM Ratings is committed to preserving the objectivity, integrity and independence of its ratings. Rating fees are communicated to clients prior to the issuance of rating opinions. While RAM Ratings reserves the right to disseminate the ratings, it receives no payment for doing so, except for subscriptions to its publications.

Similarly, the disclaimers above also apply to RAM Ratings’ credit-related analyses and commentaries, where relevant.

Published by RAM Rating Services Berhad
© Copyright 2022 by RAM Rating Services Berhad


Rating Rationale

Ratings on Sarawak Petchem Sdn Bhd